Notes to SEFA
Title: Relationship to Financial Statements
Accounting Policies: General
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal
awards programs of Alaska Municipal League, Inc. The information in the SEFA is presented in accordance
with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Alaska
Municipal League's reporting entity is defined in Note 1 of Alaska Municipal League's basic financial
statements. Federal awards received directly from federal agencies or passed through agencies of the
State of Alaska or other non-federal agencies is included in the SEFA.
Basis of Accounting
Expenditures reported on the SEFA are presented using the accrual basis of accounting, which is described
in Note 1 of Alaska Municipal League's financial statements. Such expenditures are recognized following
the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not
allowable or are limited as to reimbursement. Alaska Municipal League has elected to use the ten percent
de-minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: Alaska Municipal League has elected to use the ten percent
de-minimis indirect cost rate as allowed under the Uniform Guidance.
The following is a reconciliation of state revenues reported in Alaska Municipal League's financial
statements to state expenditures reported in the Schedule of Expenditures of Federal Awards:
As reported in the Statement of Revenues, Expenditures, and Changes
in Net Position:
Federal grant revenue $ 967,111
Total federal expenditures as reported on the Schedule of Expenditures
of Federal Awards $ 967,111